The price of gold rose sharply in Europe but fell in New York yesterday after Iran indicated it would readmit some U.S. newsmen. The dollar was mixed but generally held its gains of the past two days.
Gold closed in Zurich at $644.50 an ounce, up $26 from $618.50 on Monday. It closed in London at $640.50, up from $627.50. In New York, however, gold fell to $630.25 at the close from $647.50 Monday. The Comex settlement price was $625.50, down from $648.90.
Silver fell to $33.35 an ounce from $34.125 Monday. The settlement price was $33.65 compared with $33.90.
European closing prices for the dollar, with late New York rates in parentheses:
Frankfurt, unchanged at 1.7620 marks (1.7628); Zurich, 1.6680, down from 1.6719 (1.6685); Paris, 4.1332 francs, up from 4.1322 (4.1380); Milan, 815.20 lire, up from 814.95 (815.20); Brussels, 29.405 Belgian francs, down from 29.425 (28.60); and Amsterdam, 1.9410 guilders, down from 1.9416 (9.9430).
In London the pound dropped to $2.2765 from $2.2770, but it rose in New York to $2.2795. In Tokyo the dollar rose to 248.40 yen from 248, but fell to 247.75 yen in New York.